Africa Archives - Page 30 of 32 - Academy of Tax Law

S.Africa: Proposed Changes to Secondary TP Adjustment

Proposed Changes to Secondary Transfer PricingTransfer pricing is a fundamental concept in international taxationFOR MORE INSIGHT ON INTERNATIONAL TAXATION, PLEASE READ THIS ARTICLE: Introduction to International Taxation: Key Concepts & Guidelines International Taxation encompasses the framework of laws, principles, and treaties that govern the tax obligations of individuals and entities engaged in economic activities that span multiple jurisdictions. This field addresses how income, profits, and gains are taxed when operations or investments extend... More that defines the pricing methods and rules applied to transactions between related entities within a multinational enterprise (MNEWhat are Multinational Enterprises (MNEs)? Multinational Enterprises, commonly referred to as MNEs, are corporations that operate in multiple countries through various subsidiaries, branches, or affiliates. These entities maintain a central management structure while leveraging diverse resources, labour markets, and customer bases across borders. The fundamental aspect that distinguishes MNEs from other corporate forms is their cross-border activity, which can include... More). In the context of tax regulationsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More, it governs how prices for goods, services, or intangibles (such as intellectual propertyIntellectual Property (IP) refers to creations of the mind, including inventions, literary and artistic works, symbols, names, images, and designs used in commerce. It grants creators exclusive legal rights to use and exploit their work, ensuring protection against unauthorised use or reproduction. These rights are critical in fostering innovation and creativity while providing economic value to individuals and organisations. IP... More) are set when these […]

S.Africa: Proposed Changes to Secondary TP Adjustment Read More »

S.Africa: Shuttleworth wins SCA case against the SARB to refund $22m paid in a 10{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} levy imposed to expatriate funds out of South Africa

Leave a Comment / FP News, South Africa / ATL-Editor

http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157.pdf For a summary of the case: http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157ms.pdf A short radio interview giving the basics of the case: https://www.youtube.com/watch?v=yDftRV8uWYY&feature=youtu.be Shuttleworth could have ‘shuttled’ his monies out of South Africa without the payment of a levy DLA Cliffe Dekker Hofmeyr Emil Brincker South Africa October 3 2014 In a farFunctional analysis is the cornerstone of transfer

S.Africa: Shuttleworth wins SCA case against the SARB to refund $22m paid in a 10{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} levy imposed to expatriate funds out of South Africa Read More »

Nigeria: Interest On Intercompany Loan Incurred By An Oil Company Is Tax Deductible Subject To Transfer Pricing Rules

Leave a Comment / Africa, Nigeria, West Africa / ATL-Editor

Nigeria: Interest On Intercompany Loan Incurred By An Oil Company Is Tax Deductible Subject To Transfer Pricing Rules Last Updated: 30 September 2014 Article by Taiwo Oyedele PwC Nigeria The Tax Appeal Tribunal (TAT) on 18 September 2014 passed a judgement in a case between Nigeria Agip Oil Company Limited and the Federal Inland RevenueTax authorities are fundamental

Nigeria: Interest On Intercompany Loan Incurred By An Oil Company Is Tax Deductible Subject To Transfer Pricing Rules Read More »

S.Africa: Electronic assessments by SARS through eFiling? Is this proper notification?

Leave a Comment / Africa, South Africa / ATL-Editor

In a DeRebus October 2014 article the author Alan Lewis concludes: “In my opinion, neither the provisions of the Tax AdministrationTax authorities are fundamental institutions within government frameworks, overseeing tax assessmentA tax assessment is a formal determination made by a tax authority to calculate the amount of tax an individual or entity owes. It is a comprehensive evaluation based on financial records, declared income, expenses, deductions, and any applicable tax laws or regulations. Tax assessments may arise from routine self-assessments by taxpayers, or they may be conducted by revenue authorities... More, collection, and administration. Their operations ensure that tax laws are enforced and public funds are collected efficiently. This article delves into tax authorities’ purpose,

S.Africa: Electronic assessments by SARS through eFiling? Is this proper notification? Read More »

S.Africa: SARS have introduced a new modernised tax return for Trusts

Leave a Comment / Africa, FP News, South Africa / ATL-Editor

S.Africa: SARSThe South African Revenue ServiceThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... More (SARSThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... More) is the official tax authorityTax authorities are fundamental institutions within government frameworks, overseeing tax assessment, collection, and administration. Their operations ensure that tax laws are enforced and public funds are collected efficiently. This article delves into tax authorities' purpose, responsibilities, and structure, offering insights into their essential role in supporting government functions and economic stability. What is a Tax Authority? A tax authority is... More responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislationTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More. Established under the South African Revenue ServiceThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... More Act, No.

S.Africa: SARS have introduced a new modernised tax return for Trusts Read More »

S.Africa: Missed the NEW TAA Dispute Resolution seminar – here is the recording

Leave a Comment / Africa, South Africa / ATL-Editor

Missed the NEW TAA Dispute Resolution seminar Here is the recorded version: I delivered a 4 hour detailed seminar on the NEW TAA Dispute Resolution rules (end Sept 2014) that will affect you as tax practitionerA Tax Advisor is a professional who provides specialised advice to individuals, businesses, and organisations on various tax-related matters. They

S.Africa: Missed the NEW TAA Dispute Resolution seminar – here is the recording Read More »

BRICS: Potential influence in Africa of China beneficial ownership case where preferential dividend rate denied – WITH further explanations applicable to Africa

Leave a Comment / Africa, FP News / ATL-Editor

BRICS: Potential influence in Africa of China beneficial ownership case where preferential dividend rate denied – WITH further explanations applicable to Africa Latest Chinese tax case on beneficial ownership in treaty application Abe ZhaoTax Partner, Head of International Tax of KPMG Asia Pacific Region, Country Leader of KPMG China’s International Tax Tax officials in Qinghai,

BRICS: Potential influence in Africa of China beneficial ownership case where preferential dividend rate denied – WITH further explanations applicable to Africa Read More »

S.Africa: Customs & Excise reclassification – importance of evidence

Leave a Comment / Africa, South Africa / ATL-Editor

http://www.saflii.org/za/cases/ZASCA/2013/145.html Bowman Gilfillan Virusha Subban September 19 2014 The Supreme Court of Appeal recently ruled on the correct customs duty classification for a vehicle known as a Kubota RTV Utility Vehicle.Facts The competing tariff headings in this case were: TH 87.04 for motor vehicles for the transport of goods (Subheading 8704.21.80); and TH 87.09 for

S.Africa: Customs & Excise reclassification – importance of evidence Read More »

S.Africa: Disposal of foreign equity shares – proceed with caution

Leave a Comment / Africa, South Africa / ATL-Editor

Disposal of foreign equity shares – proceed with caution ENSafrica Peter Dachs and Bernard Du Plessis South Africa September 16 2014 In advising on international corporate transactions we often advise taxpayers that directly, or indirectly through a foreign subsidiary, dispose of their equity shares in foreign subsidiaries or equity investments resulting in a taxable capital gain. What

S.Africa: Disposal of foreign equity shares – proceed with caution Read More »

Mauritius: Mauritius further enhances its position as an offshore jurisdiction of choice with 4 new DTAs

Leave a Comment / Africa, SADC / ATL-Editor

Article by Malcolm Moller and Sharmilla Bhima Appleby The Government of the Republic of Mauritius (Government of Mauritius) has ratified double taxationDouble Taxation occurs when the same income or financial transaction is taxed twice, typically in different jurisdictions. It can arise in two primary contexts: economic double taxationDouble Taxation occurs when the same income or financial transaction is taxed twice, typically in different jurisdictions. It can arise in two primary contexts: economic double taxation, where the same income is taxed twice in the hands of different taxpayers, and juridical double taxation, where the same taxpayer is taxed on the same income in more than one country. Double... More, where the same income is taxed twice in the hands

Mauritius: Mauritius further enhances its position as an offshore jurisdiction of choice with 4 new DTAs Read More »